Exercise 10-11 The Marshall Antique Mall expects to make purchases in the first

Question

Exercise 10-11 The Marshall Antique Mall expects to make purchases in the first quarter of 2018 as follows: anuary $%100,500 February 114,000 March 94,000 Purchases in December 2017 are expected to be $104,000. The company expects that 55 percent of a month's purchases will be paid in the month of purchase and 45 percent will be paid in the following month Estimate cash disbursements related to purchases for each month of the first quarter of 2018 Cash disbursements for purchases January FebruaryMarch Payment of December purchases Payment of January purchases Payment of February purchases Payment of March purchases

Explanation / Answer

Cash disbusrments of Purchases January February March Purchase        100,500.00    114,000.00      94,000.00 Payment of December Purchases          46,800.00                     -                       -   Payment of January Purchases          55,275.00      45,225.00                     -   Payment of February Purchases                          -        62,700.00      51,300.00 Payment of March Purchases                          -                       -        51,700.00 Total        102,075.00    107,925.00    103,000.00

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.